2009 (8) TMI 617

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..... r: D.N. Panda, Member (J)]. - None present for the respondent. 2. Learned DR submits that learned Commissioner waived penalty levied under Section 76 of the Finance Act, 1994 for which Revenue has been aggrieved and has come in appeal. He submits that there is no reasons given to waive penalty and that is not exhibited by the learned Commissioners finding. The only reasoning given is that follow .....

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..... evenue succeeds in this appeal and penalty imposed by the learned Adjudicating Authority sustains. But the learned Adjudicating Authority has to quantify the demand in respect of penalty under Section 76 of the Finance Act, 1994 and recovery proceedings in accordance with law shall follow in respect of such quantified demand. 5. Although aforesaid matter was fixed for hearing stay application to .....

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